The real estate industry is projected to grow to nearly $3741.06 billion in 2022. Does this mean real estate agents will charge more fees? Not necessarily, but there will be more competition.
Your local realtor may offer a flat rate, or they may charge a sliding scale. But either way, you should know the average cost of selling a house so you don’t get taken advantage of.
Here is everything you need to know about the cost of selling a house with a realtor.
Commission Costs
The cost of selling a house with a realtor is typically around 6% of the final sale price. This includes the listing commission, which is typically half of that, or 3%. So, if you are selling a home for $200,000, you can expect to pay $12,000 in commissions.
The listing commission is paid to the real estate company that represents the seller. And the buyer’s agent commission is paid to the real estate company that represents the buyer.
Marketing and Advertising Costs
The cost of selling a house with the help of a realtor can vary depending on the marketing and advertising costs associated with the sale. Realtors may also charge for the cost of marketing the home
This can include the cost of hiring a professional photographer, as well as the cost of advertising the home on various websites and in print media. The total cost of selling a house with the help of a realtor can therefore range from a few hundred dollars to several thousand dollars.
Staging Costs
Most homeowners choose to sell their houses with the help of real estate agents. They are knowledgeable about the home selling process and can help you determine the staging costs associated with selling your house.
The staging costs will depend on the size and condition of your house and the amount of work that needs to be done to prepare it for sale. The average staging cost for a house is $600, but it can range from $200 to $2,000.
Holding Costs
The holding costs of selling a house with a realtor are the costs associated with keeping the property in its current state until it is sold. This can include mortgage payments, insurance, property taxes, utilities, and repairs. These costs can add up quickly, so it is important to factor them into the decision of whether or not to sell with a realtor.
Understanding the Cost of Selling a House With a Realtor
The cost of selling a house with a realtor can vary depending on a few different factors. Typically, realtors will charge a commission that is a percentage of the final sale price of the home. This commission is generally negotiable, so it is important to shop around and compare rates before selecting a realtor.
In addition to the commission, there may also be other costs associated with selling a home, such as advertising fees, staging costs, and even closing costs if the realtor is handling the sale. Overall, the cost of selling a house with a realtor will vary depending on the services provided and the commission rate, but it is typically a few thousand dollars.
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